Crowdstrike price target raised to $400 from $310 at Susquehanna

Susquehanna analyst Shyam Patil raised the firm’s price target on Crowdstrike (CRWD) to $400 from $310 and keeps a Positive rating on the shares. The firm said they reported a generally solid F3Q, though the outlook for F4Q net new ARR growth was a bit murky. Susquehanna continues to expect the near term to remain choppy as customers digest the impacts of the July outage, but think that over the long term the company can continue to leverage its category-leading positioning in endpoint to become a platform provider as it expands into other areas of cybersecurity like cloud, identity, and next-gen SIEM.